Why Shares of AMC Entertainment Are Surging Today
The stock of AMC Entertainment (NYSE: AMC) jumped 12.5% higher in morning trading Tuesday as the prospect of more states allowing businesses to open boosted prospects that the movie theater operator would be able to reopen, too.
It was just two weeks ago that it looked as if the COVID-19 pandemic would push AMC into bankruptcy, as forced theater closures shut off revenue to the world's biggest cinema operator. The company also slashed its dividend, and executives all took pay cuts to help conserve cash.
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Source Fool.com
